Intel reported first-quarter earnings report Thursday. They beat the estimates for the quarter, but reported their first annual profit decline since 2015. In addition, their full-year guidance that was below Wall Street expectations.
Data-center revenue, Intel’s second largest segment, not only declined more than expected for the first quarter, down 6% to $4.9 billion when analysts were expecting a 2.5% decline to $5.1 billion, but also the company forecast flat data-center sales on a sequential basis. Analysts had been forecasting data-center sales of $5.58 billion for the second quarter.Jefferies analyst Mark Lipacis, who has an underperform rating and a $40
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